Godrej Properties hits 52-week high on addition of new residential project in Navi Mumbai

Our Bureau | Updated on March 01, 2021

Mumbai, March 1 The shares of Godrej Properties Ltd. (GPL) hit fresh 52-week highs on Monday after the company announced the addition of a new residential project in Sanpada, Navi Mumbai.

At 11:03 am, GPL was quoting ₹1541.75, up ₹2.85 or 0.19 per cent. It hit a 52-week high of ₹1,573.45. It opened at ₹1,545.00 as against the previous close of ₹1,538.90.

On the NSE, it was trading at ₹1,542.20, up ₹1.65 or 0.11 per cent. It hit a 52-week high of ₹1,572.25.

GPL on Monday said that it had emerged as the highest bidder in the CIDCO e-auctioning process with a total bidding value of ₹166 crore for two adjacent plots.

Spread over around 1.5 acres, the project will offer around 4 lakh square feet of development potential comprising primarily of premium residential apartments of varied configurations with a small amount of high street retail at the base of the development, it said in a regulatory filing.

Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are happy to add this new project in Navi Mumbai to our portfolio. This project will strengthen our development portfolio in MMR and fits well with our strategy of deepening our presence in key markets across India's leading cities. We will seek to ensure this project delivers an outstanding lifestyle for its residents.”

Published on March 01, 2021

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